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Libra warns of earnings decline for FY16

LIBRA Group Limited said on Wednesday that it expects to report a decline in earnings for its full year ended Dec 31, 2016.

This is mainly due to lower operating margins as a result of the challenging economic environment, and potential provisions to be made in relation to doubtful receivables from certain external parties.

The profit guidance is based on the preliminary review of the management accounts of the group for fiscal 2016.

Further details of the group's financial performance will be disclosed when it announces its unaudited results for FY2016, which will be no later than March 1.